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Absolutely not, unless they were the driver. It is the driver's responsibility.
However, the co-signer may be realizing they are in a difficult position. The car may become impounded if the tickets are not paid. The impound fees will accumulate and the primary borrower is likely to abandon the car. Bang! Unless the co-signer pays all those expenses the loan will go into default and the co-signer's credit record will be ruined. Co-signing carries huge risks.
What else can I help you with?
Is cosigner responsible for tickets on car?
Yes, a cosigner can be held responsible for tickets associated with a car. If the vehicle is registered in the name of the primary borrower, the primary borrower typically receives the tickets, but the cosigner may still bear financial responsibility for any debts incurred, including fines. Ultimately, the laws can vary by state, so it's important to understand local regulations regarding vehicle ownership and responsibility.
If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?
Yes. If you signed the loan, you are still legally responsible for it.
Can a cosigner register a car?
Yes, a cosigner can register a car, but they are not the primary owner of the vehicle. The cosigner is responsible for the loan if the primary owner fails to make payments.
Is it possible to buy a cosigner for a car?
No, it is not possible to buy a cosigner for a car. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. They cannot be purchased or hired.
If I am a cosigner on a car loan and it gets repo is the owner of the car responsible for the remaining balance after it is auctioned or is it the cosigner's responsibility?
Both are responsible until paid in full. It will also be on both credit reports as well.
Do you have to have a cosigner in order to get a car loan?
Having a cosigner for a car loan is not always required, but it can help if you have a limited credit history or poor credit. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments.
Can a cosigner be held liable for primary owners parking tickets?
only the people on the title are responsible for tickets. cosignors are on the loan and they will pay-pay-pay don'tcosign on anything
Can a cosigner be held legally responsible and sued for a car accident involving the primary borrower?
Yes, a cosigner can be held legally responsible and sued for a car accident involving the primary borrower, as they are equally liable for the loan and any related incidents.
Who is responsiblie if Someone not listed on your rental car contract got a traffic ticket?
Traffic tickets are not given to the car. The person that got the ticket is responsible. Tickets that are given to the car the renter is responsible. ie parking tickets
Can a cosigner take over a car loan?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. The cosigner would become responsible for the loan and would need to make payments to avoid default.
Can a cosigner take over a car loan if the primary borrower is unable to make payments?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. This means the cosigner becomes responsible for making the payments on the loan.
Why is my cosigner listed on my car title?
Your cosigner is listed on your car title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
